Four Individuals name A, B, C, D are joint owner of some piece of land and out of them two i.e. A and B wanted to make partnership firm in the name of AB Associates and carried plotting business in that land.

1.) Can all four A,B,C,D enter in a joint development agreement with the partnership firm AB Associates and give rights to development of the land and sale plot to probable buyers?

2.) If answer to above questions is affirmative, then when will capital gain be taxable in the hands of A,B,C and D?

3.) Can A,B,C,D take benefit of sections 54, 54F etc to save capital gain tax?

4.) Taxability in the hand of partnership firm AB Associates? What will be the cost for AB Associates?

We had filed return showing income under POCM method but claimed entire TDS deducted by parties who had given advance for booking of flats. Now received message from ITD stating that Return is defective. Please guide what to do ?

Pls advise me the TDS application for Barcode registration fees

My employer deducted TDS @ 10% u/s 194JB (April-June) and @ 1% u/s 194C (July-Mar) from my salary in fy 2021-22 as I am in contract. Kindly let me know which ITR form to be filled in that case.

Read more at: https://www.caclubindia.com/forum/income-tax-return-filling-help-589485.asp

Sir,

Employee not able to produce investment proof details upto 31.03.2022, now while calculating salary there is tax payable, now
1.Can company tax payable issue form 16 to employee
2. now Company pay tax with Interest and recovered from employee
3. Employee can pay taxable amount through his bank account and give tax paid challan to Company and company file tds return considering this challan.

Sir which option is now need to take and file annual tds return
Pls help me.

Hello CA Experts,

My sister & father passed away last year due to covid. Both had made my mother as nominee and the death claims was settled in my mother's SB account during last FY (2021-2022) itself.
My question : What is the Tax Percentage to be paid on the Death Claim amount received ? and will the death claim amount need to be shown/ declared in IT Return ?

Rgds, Krishna

Dear sir,
We are running a Gowshala and registered U/s 12A and 80G, We purchase fodder, The person comes to our gaushala with trucks loaded with fodder and we pay them in cash. The Person who brings fodder are not farmers they are middle men who purchase fodder from farmers and sells to us. Can we pay them Rs 180000/- in cash for purchase of fodder. Or there is any way as they do not take amount by banking mode.

when to book TDS Receivable,
At the time of Booking income
or on date of receiving amount or
any other date book.

DONATIONS RECEIVED BY TRUST FROM PERSONS HAVING NO ID PROOF WHETHER THE SAME TO B FILLED IN FORM 10BD. IF YES THEN UNDER ID COLUMN WHAT TO B FILLED.

TOTAL DONATIONS RECEIVED ARE 60 LACS OUT OF WHICH 15 LACS ARE HAVING PAN AND OTHER ID. THERE IS ALSO HUGE DIFF IN DONATIONS FROM ID PERSONS AND NON ID PERSONS I.E. 45 LACS FROM NO ID PERSONS.

IT IS CHAIRATBLE TRUST.

PL GUIDE.

Hi Experts,

Please, give me some clarity regarding an income tax related issue.

Can an employee claim the online course fee amount for allowance under books and periodicals.

As books and periodicals both gives us information and knowledge regarding our profession and in present times there are a lot of online professional courses regarding finance and Information Technology. These courses also allow us to enhance out knowledge and use it to boost the business ecosystems.

Please, give revert asap.

Thankyou